Foreclosures are at all-time lows. After hitting a 3.5% foreclose rate after the last recession they now stand at less than .5%. The reason is very simple, people have jobs and the standards for obtaining a home loan returned to a more reasonable criteria.
History has shown you cannot loan money to the unemployed to buy a home if you expect to get paid back. All the good intentions in the world do not matter if a home buyer can’t afford the loan.
Everyone deserves a chance at the American dream of owning their own home but we should make more of an effort through the banking system to make sure they can keep that home through solid mortgage loan practices.